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Solar industry to be driven by the Asia Pacific region

The Asia Pacific Major PV Markets Quarterly report published by market research company Solarbuzz, a subsidiary of NPD Group have indicated high potential for the Asia Pacific region (APAC) to drive solar power growth in the upcoming future.

Demand for solar pv have reached 1.4 gigawatts in the second quarter of 2012, which is almost a 60 per cent growth as compared to data from the previous year. These growing figures were mainly driven by the government’s solar initiatives in India, China and Japan. China’s solar pv adoption alone has grew over 300 per cent to 600 megwatts at Q2 2012.

However with growth comes challenges and Solarbuzz had indicated the potential of oversupply of solar modules with the APAC region relying on highly competitive pricing and low profit margins.

For more information, refer to: http://www.solarbuzz.com/news/recent-findings/asia-pacific-stimulate-strong-year-end-surge-pv-demand

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